free trade

Introduction. Changes in the balance of power in the global economy, the increasing role of the Asia-Pacific countries in international trade, the consequences of the global crisis of 2008–2009 led to a revision of foreign trade policy by both developed and developing countries, to an increased application of protective measures of national economy. Theoretical analysis. State economic policy aimed at protecting and realizing the interests of the national economy is protectionism in a broad sense.

Introduction. The contradictions that have accumulated in the world economy call into question the advantages of globalization and free trade, reinforcing the tendencies of protectionism. Theoretical analysis. Since mercantilism, which created the prerequisites for the Industrial Revolution, protectionism and industrial policy havebeen used as complementary mechanisms. In the twentieth century, protectionism was fi nally ousted from trade policy and from scientifi c research.